14 Sep Boomers and Multi-Family – What Do They Want?
It’s sort of an unexpected turn in the multi-family housing market – Boomers in search of a new lifestyle are selling their homes and seeking out multi-family housing. Though once associated mainly with twenty- and thirty-somethings, the appeal of flexible options, lower living costs and a closer community is not lost on those nearing or entering retirement. But, Boomers aren’t just looking for an average apartment, they’re looking for a place to live that suits their unique sets of wants and needs. Developing a new project and want to attract a slightly older audience? Here are just a few key selling points that will bring the Boomers to your door.
Next to the flexibility and decreased living expenses that come with multi-family living, many boomers are drawn to the convenience of living in something other than a large, single family home. Highlight your walkable location, great maintenance plans, luxurious amenities, even your convenient open floorplan and the overall lifestyle your community offers to attract an older renter or buyer.
Discreet Age-In-Place Features
Boomers are thinking about the future, and they would like to be prepared for the effects of aging, but they don’t necessarily want to broadcast those facts to every person who visits their home. That’s why we’re seeing an increase in features, especially kitchen features, that could suit residents of any age, but will really make life easier for tenants as they continue to age. These features can be easily incorporated into current designs, like easy open/close ovens and dishwashers, wider tubs with benches or handrails, and better illumination throughout the home.
Boomers tend to have accumulated a lot of ‘stuff’ over their lifetimes. And while they will most likely not be trying to fit everything that was in a 5 bedroom home into a 2 bedroom apartment, they are still looking for more than just a small outdoor storage closet. To really impress this group, think outside the ‘box’ when it comes to storage – multiple smart storage areas included in the design of the floorplan will impress boomers, and make it easier for them to envision their ‘stuff’ in your home.
They may have come to your complex from a big suburban neighborhood but Boomers very often seek out apartment or condo living because of the built-in community it fosters. Make it easier for them to get to know their neighbors by offering community space and gathering areas as an amenity and encourage your leasing team/HOA to coordinate community events like block parties, cookouts, even regular outings to your city’s attractions.
Trying to reach your boomer audience? Idea has years of experience in both multi-family and boomer marketing and we can help you get results! Give us a call today to find out what we can do for you!